A missile launched in the Persian Gulf does not travel in a straight line toward the Sea of Oman. It travels directly to a Bitcoin trader's screen in São Paulo or Mexico City.
Price and Trend: The asset surpassed $73,004 this April 10 following the CPI data, remaining above the 50-day Simple Moving Average (SMA) located at $71,693. Whale Activity: Flows from large holders to Binance fell below $3 billion, reaching their lowest level since June 2025.
Bitcoin (BTC) is once again hovering around a critical zone near $70,000, with price action tightening as bulls and bears fight for control. A strong hold above this region may fuel further upside, but any weakness could quickly open the door to a fresh wave of downside pressure.
Since falling from its all-time high in 2025, the Bitcoin price has failed to initiate another major upward move, reinforcing the bear market narrative. After this sharp downward action over the past few months, the amount of BTC supply in loss is spiking hard, reaching levels not seen in years.
Bitcoin institutions are betting on both sides of the market at $72,000, buying $80,000 call options while simultaneously purchasing downside protection, as Friday's CPI data and US-Iran peace talks in Islamabad leave direction entirely unclear.
Bitcoin is trading above $73,000 Friday evening, and the derivatives data sitting behind that price tells a more cautious story than the spot number suggests.
Bitcoin moved from $72,000 to $72,400 on April 10 after March core CPI printed below expectations, giving crypto bulls a short-lived reprieve from months of sustained macro pressure.
Alex Thorn, an executive at crypto investment firm Galaxy, said it is monitoring onchain activity for signs of an oil tanker fee paid in BTC.
The Bitcoin long-term holders have seen their losses balloon recently, but historical data shows bear markets bottomed out at yet higher levels.
A crucial crossover shows Bitcoin entering a transition phase, where weaker hands exit and price struggles before building a long-term bottom.
The U.S. government currently holds roughly 328,000 bitcoins, worth more than $22 billion at current prices, among other crypto assets.
BlackRock has withdrawn approximately 2,700 BTC and 30,000 ETH from Coinbase, according to on-chain tracking services, in a combined transfer valued at over $236 million. The move, spotted by blockchain monitors Onchain Lens and Lookonchain, has drawn attention amid a market environment where Bitcoin trades near $73,055 and the Fear and Greed Index sits deep in Extreme Fear territory at 16.